Zacks Investment Research Downgrades Gibraltar Industries (NASDAQ:ROCK) to Hold

Gibraltar Industries (NASDAQ:ROCK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, January 9th.

According to Zacks, “Over the past month, Gibraltar Industries’ shares have outperformed the industry. The company perceives that its value-creation strategy will continue to boost results in the quarters ahead. Moreover, newly made acquisitions, portfolio management moves and innovation investments are anticipated to generate benefits going forward. However, dreary industrial and infrastructure market conditions might continue to mar the company’s top-line performances in the quarters ahead. Moreover, other headwinds such as customer concentration risks and unfavorable government funding programs remains major causes of concern. Over the last 60 days, Zacks Consensus Estimate for the stock has remained unchanged for 2018.”

ROCK has been the topic of a number of other reports. BidaskClub upgraded Gibraltar Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. KeyCorp restated a “buy” rating and issued a $39.00 target price on shares of Gibraltar Industries in a research report on Friday, November 17th. Finally, TheStreet raised Gibraltar Industries from a “c” rating to a “b-” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $42.00.

Shares of Gibraltar Industries (NASDAQ ROCK) traded up $0.60 during midday trading on Tuesday, hitting $36.50. The stock had a trading volume of 367,400 shares, compared to its average volume of 318,811. The firm has a market cap of $1,156.62, a price-to-earnings ratio of 39.67 and a beta of 1.78. Gibraltar Industries has a 1-year low of $25.61 and a 1-year high of $45.05. The company has a quick ratio of 1.93, a current ratio of 2.36 and a debt-to-equity ratio of 0.41.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Friday, November 3rd. The construction company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.56 by $0.11. Gibraltar Industries had a return on equity of 10.77% and a net margin of 3.08%. The company had revenue of $274.57 million for the quarter, compared to analyst estimates of $275.80 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. sell-side analysts forecast that Gibraltar Industries will post 1.64 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new stake in Gibraltar Industries during the second quarter valued at approximately $147,000. SG Americas Securities LLC acquired a new stake in Gibraltar Industries during the third quarter valued at approximately $157,000. Profund Advisors LLC boosted its holdings in Gibraltar Industries by 9.1% during the second quarter. Profund Advisors LLC now owns 5,756 shares of the construction company’s stock valued at $205,000 after purchasing an additional 480 shares in the last quarter. Petrus Trust Company LTA bought a new position in shares of Gibraltar Industries in the second quarter valued at approximately $305,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Gibraltar Industries in the third quarter valued at approximately $327,000.

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About Gibraltar Industries

Gibraltar Industries, Inc is a manufacturer and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Company’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.

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